Modernisation of Burma/Myanmar's economy
Individual Documents
Description:
"Myanmar’s economy is navigating significant uncertainty and risks at home and abroad. A year after violent
upheaval in Rakhine State led to the forced displacement of over seven hundred thousand refugees1
to
Bangladesh, limited progress has been made in resolving fundamental issues relating to rights, repatriation and
recovery. Global economic and trade prospects have also become more uncertain. Myanmar’s economic growth
is expected to slow from 6.8 percent in 2017/18 to 6.2 percent in 2018/19, which is still robust by regional and
global standards. Macroeconomic volatility has intensified since the May 2018 Myanmar Economic Monitor,
with inflation breaching two-year highs in August 2018, and the kyat depreciating by 18 percent against the U.S.
dollar since April. Growth is projected to recover to 6.6 percent by 2020/21, helped by recent policy changes
such as the adoption of the Myanmar Sustainable Development Plan, liberalization of wholesale and retail trade,
implementation of the Myanmar Companies Law and large investments in infrastructure projects including
those related to the Belt and Road Initiative. Risks to the outlook are tilted to the downside due to the possibility
of a global slowdown in trade, domestic macroeconomic imbalances, and the loss of trade-related preferences
to the European Union..."
Source/publisher:
World Bank
Date of publication:
2018-12-00
Date of entry/update:
2019-07-10
Grouping:
Individual Documents
Category:
World Bank Group - Burma/Myanmar, Modernisation of Burma/Myanmar's economy, Burma/Myanmar's relationship with the Global Economy, World Bank and its Watchers
Language:
Format :
pdf
Size:
2.87 MB
Local URL:
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Sub-title:
Building Reform Momentum
Description:
"Myanmar’s economy is slowly picking up speed and regaining stability after a volatile 2018. Despite a
challenging global environment, Myanmar’s economic growth is expected to rise to 6.5 percent in 2018/19
from 6.4 percent in the Transition Period1 supported by strong performance in the manufacturing and services
sectors. Volatility that buffeted the economy in 2018 has started to ease. Inflation moderated, the kyat stabilized,
and fuel prices fell in Q1 2018/19, though there have been some reversals in prices in Q2. The economic
outlook looks positive, with growth expected to reach 6.7 percent in the medium-term. The recent decisions to
ease trade restrictions; open the financial sector to greater foreign competition; and begin mega infrastructure
projects signal a decisive and awaited uptick in reform momentum. Downside risks to the economic outlook
are driven by external factors, including possible revocation of preferential trade access under the European
Union Generalized System of Preferences. Slowing global and regional growth, especially in China, together
with renewed escalation of global trade tensions, could also slow exports and the flow of inbound foreign
investments. Insecurity in border areas, the Rakhine crisis, with violence and forced displacement of refugees,
and the recent flare-up in violence involving the Arakan Army, could affect investors’ sentiment. The 2020
general election is also a source of uncertainty..."
Source/publisher:
World Bank
Date of publication:
2019-06-01
Date of entry/update:
2019-07-10
Grouping:
Individual Documents
Category:
World Bank Group - Burma/Myanmar, Modernisation of Burma/Myanmar's economy, Burma/Myanmar's relationship with the Global Economy, World Bank and its Watchers
Language:
Format :
pdf
Size:
2.92 MB
more